Binance to Resume US Operations Within Two Months, Predicts CEO CZ
Kollen Post's original article for cointelegraph.com reduced by 59%
Changpeng Zhao, CEO of major cryptocurrency exchange Binance, has predicted that Binance will resume crypto-to-fiat operations in the United States within the next two months. Navigating U.S. regulationZhao, also known as CZ within the crypto community, made his prediction in an interview with online news outlet Cheddar published Aug.
15. Back in June, Binance announced that the exchange would be temporarily restricting services in the U.S. as it worked to open a new division to operate with Financial Crimes Enforcement Network approval, at Cointelegraph reported at the time.
"I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market in a large market it is harder to regulate." Zhao ultimately expressed optimism for the future of U.S. regulation, citing the country's clear legal framework for traditional financial services as evidence that the environment for crypto will improve.
Despite Zhao's optimism, Binance has experienced several issues with security in recent weeks. A dusting attack on Litecoin reportedly affected nearly 300,000 Binance users earlier this month.
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